Looking for an easy way to ship your cargo to Honduras? Choose the best freight forwarder to transport your goods to Honduras safely and on time.
Exporting goods to Honduras, whether it is for the first time, or on a regular basis, can be a challenging experience.
There are many elements to consider when shipping to a country such as Honduras. If you are in Canada or the US and not entirely familiar with the Latin American market, you should consider a cargo shipping company that knows the business culture, the language, the customs regulations and has a proven track record of success when it comes to shipping to Honduras.
WHAT CAN YOU EXPECT IN HONDURAS?
Regulations in Honduras are not only very different from the ones in the US or Canada, communication methods and business etiquette are also very distinct: ● Corporate culture in Honduras is relationship-driven. Known as reserved but friendly people, Hondurans value trust, honor & camaraderie. They attach great importance to developing personal relationships rather than formal business connections which is the norm in the US or Canada. Therefore, it is important to develop easy going business “friendships”, as Hondurans may be more loyal to you personally rather than to the company you represent. Third-party contacts are also a key to business success in Honduras. An established person vouching for you and presenting your company will help you gain trust in the market. ● Hondurans have a more relaxed perception of time management than Americans and Europeans, however punctuality is expected for business appointments. ● It is also important to consider the language as a possible barrier. Although most highly-educated business executives speak English fluently, the average person speaks only Spanish.
QUICK FACTS ABOUT HONDURAS (2018)
- Capital: Tegucigalpa
- Other Large Cities: San Pedro Sula, La Ceiba, Choloma, El Progreso, Comayagua, Choluteca, Danlí
- Population: 9,587,522 (Urban Population: 57.1%)
- Official languages: Spanish
- Time Zone : GMT - 6
- Currency: Honduras Lempira (HNL)
ECONOMIC SNAPSHOT ( Source: IMF - World Bank, 2018)
- GDP: 23.80 billion USD (GDP Growth: 3.7% / GDP per capita: 2,524 USD)
- Inflation Rate: 4.3%
- Unemployment Rate: 5.6%
- Total Imports of Goods: 12.2 billion USD
- FDI Inward Flow: 1.44 billion USD (6,0% of GDP)
- Ease of Doing Business Score (2019): 121th / 190
WHY DOING BUSINESS WITH HONDURAS IS THE RIGHT DECISION
Honduras is a growing economy full of business opportunities for companies looking to expand Internationally. The country’s economic performance has been historically tied to its agriculture. However its recent market expansion has been focused on value-added industries such as manufacturing (goods produced by local assembly plants called maquiladoras), tourism and construction. The import market has seen steady growth in recent years and it will keep increasing until at least 2024. The USA is Honduras’ largest trading partner. The Central America - Dominican Republic Free Trade Agreement (CAFTA-DR) offers lots of opportunities for international exporters. Moreover, Hondurans are known to be highly receptive to US goods. The import market has seen steady growth in recent years and it will keep increasing until at least 2024. The USA is Honduras’ largest trading partner. The Central America - Dominican Republic Free Trade Agreement (CAFTA-DR) offers lots of opportunities for international exporters. Moreover, Hondurans are known to be highly receptive to US goods. The need for shipping to and from Honduras has been increasing exponentially during recent years. With LAC by your side you will reinforce your company’s cargo shipping capability to Honduras. Our experienced professionals are very familiar with the market requirements in Honduras which is very important to avoid delays during the importation process. We provide you with all the necessary tools to break into the Honduran market, headache free.
HONDURAS TRADE OVERVIEW
- MAIN IMPORTS: Petroleum, Medicaments, Vehicles & Parts, Telecommunication equipment, Iron & Steel, food & beverages
- MAIN EXPORTS: Coffee, Clothing, Electric Wire, Crustaceans, Palm Oil, Fruits, Gold, Cleansing products, Forestry & Paper, Sugar
- INDUSTRIES WITH STRONG BUSINESS OPPORTUNITIES: Machinery, Construction, Light Manufacturing, Pharmaceuticals, Medical equipment, Textile & Apparel
- PRINCIPAL TRADING PARTNERS: USA, China, Mexico, Europe (Germany, Belgium, Netherlands, United Kingdom, Italy), El Salvador, Guatemala, Nicaragua, Costa Rica, Brazil, Japan, Colombia